Research points at three applicable stages of maturity for Contract Lifecycle Management. By reaching the 3:rd level your organization will save approx. 30%

By reaching the 3rd level you will save 30%

Contract authoring is streamlined with T&C libraries

An Industrial - strength, free text search is enabled

Business Intelligence/advance analytics are made available

CLM-tool in place

Basic repository of legacy contacts

Security based access

No CLM-tool in place

Paper-based processes dominates

Limited standards, templates and best practices are in place

1st Level –

Inhibited Layer

2nd Level –

Enabling Layer

3rd Level –

Optimized Layer

No or very limited governance or joint processes, standards or tools are in place. Sourcing, contract and vendor/supplier management is often conducted as one off activities with limited focus on long term corporate value and corporate volume effects and efficiencies. By implementing a CLM tool the company reaches the 2nd level.

If adding a stringent use of T&C for the company, and simplifies free text searches in the CLM tool or the file share, the company is getting to the 3rd level of maturity, called the Optimized stage.

No or very limited governance or joint processes, standards or tools are in place. Sourcing, contract and vendor/supplier management is often conducted as one off activities with limited focus on long term corporate value and corporate volume effects and efficiencies. By implementing a CLM tool the company reaches the 2nd level.

Most Interesting

At Opticos we see this as the the most interesting layer for sourcing of complex Services such as IT services and similar. The top 2 levels, being Best in class and world class, better fits direct material, components or in some cases resources. For instance, there are some brokers such as Zero Chaos and eWork that can be used to reach the higher two stages in maturity for some commodities.

Our Experience

Our experience is that a large portion of mid sized to large corporation is as the first or second (being the Inhibiting layer or perhaps in the Enabling layer).

Best in Class

Opticos Agreed™ contract portfolio system offers a best in class cloud based solution for Contract lifecycle management. Please contact us for more information.